Peak oil in Asia: where will the oil come from for the Asian Century?
Asian oil production peaked above 8 mb/d for the period between 2008 and 2016 (with spikes in 2010 and 2015). The 2015 peak was mainly caused by peak oil in China. Since then Asia’s decline was almost 800 kb/d or 9%.
The rest of Asia peaked already in 2000 (the year Australia peaked) followed by a very modest decline of 1.1% pa. Let’s go through the countries one by one.
In the following, net oil imports are defined as the difference between oil consumption and production. Please see the note at the end of this post.
Thailand’s consumption increases faster than production.
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